Fine Dining, Casual Dining, and Fast Food Lead Consumer Demands for Better Value

Fast food’s long-standing grip on value perception is holding, but consumers want better value from higher-end segments, and the sweet spot between what feels like a good deal and what feels like too much varies across segments.

According to Datassential’s The Value Equation report, 44% of consumers name fast food as the best provider of good value, more than any other segment. Yet fast food also ranks fourth on the wish list for better value, with 24% of consumers saying they want more from it. 

The cause is straightforward: price has become the top fast food selection factor for consumers’ last QSR visit, cited by 84% of consumers, up from 81% in 2022, according to the firm’s Limited-Service report. Years of price increases have made cost the primary lens through which the segment is evaluated, and a growing share of consumers say fast food is falling short.

Higher-end segments face a more fundamental perception problem. Fine dining tops the wish list for better value at 29%, followed by casual dining (28%) and upper casual dining (26%). The disconnect is sharpest at the top. Datassential’s Fine Dining Segment Guide notes that while 85% of consumers rate fine dining well on food quality, only 45% say the same for affordability.

Meanwhile, the Casual Dining Segment Guide highlights how casual dining operators are already moving to close the gap, leaning on meal deals, rewards programs, and value-focused LTOs as primary growth levers. 

A segment-by-segment look at price tolerance adds further context. The Value Equation maps the percentage gap between what consumers consider good value and what feels like too much across 14 segments. 

Bars lead all segments at 137% difference between the two amounts, followed by eatertainment (93%), grocery stores (75%), bakery and coffee shops (70%), and upper casual dining (68%). Fine dining, often assumed to carry the broadest pricing latitude, lands in the middle at 59%, below both fast food (64%) and c-stores (64%), pointing to experience and quality as more reliable levers for operators in that segment.